MYS: Exploring the Global Market with Edmiston
Split between the rising trend in exploration, to the geographical peaks and falls of the modern market landscape, Jamie Edmiston walks us through the rising demands of owners and the focal trends of brokerage and new build.
“We had a very good summer especially for charter,” begins Jamie Edmiston, Chief Executive of Edmiston. “We have some encouraging sounds on yacht sales, and I think it’s fair to say we would have like to have sold more boats but I don’t think that’s unique to us […] I think people are finding the second hand market a little bit tougher than they would ultimately like.”
At its core, the brokerage community responds to the ebb and flow of global wealth markets, bringing owners to the yachting lifestyle based on the prosperity of business and finance. With this, comes a ‘microclimatic’ view of the global regions chasing the superyacht lifestyle. According the Jamie Edmiston, the top markets are all still present, but each facing its own changing landscape.
“The U.S. is a strong market, but I think certainly for us in the last few years see our U.S. operations become extremely robust,” explains Jamie Edmiston. “I think the U.S. is a market that’s very sophisticated when it comes to enjoying yachts. I don’t think you can easily compare Europe as whole and the United States.”
“The United States, of course, is a massively important market for anybody in the yacht business. Europe is a home to a lot of people who also enjoy yachts, and whilst there are certain markets which I think have declined a bit, the Russian market probably isn’t as strong as it used to be. There are 112 yachts anchored off Monaco […] there are a lot of people from all over the world who are owning and enjoying yachts. The big question is China.”
With the world’s markets changing behaviour in confidence and wealth expenditure, the question falls to demand; and naturally, the phenomenal rise in exploration and adventure.
“For sure explorer yachts have taken more and more interest,” adds Edmiston, “what we have seen with big yachts like Ulysses that carries a huge amount of equipment and has a hull that’s designed to go anywhere. We’re seeing other people develop yachts like that, on those semi-commercial platforms and then convert them into yachts. We have a couple of really interesting concepts and designs for yachts such as that. I think if people want to go and explore large distances and be away for a long time, and I guess be more discreet, then we’re going to see those yachts become increasingly popular.”
Edmiston, with a booming charter sector and a team of experts bringing brokerage and new-build activity to the superyacht industry, is a brand with proven expertise. Watch the full video above for a closer look at the world of yachting with Jamie Edmiston.